Question: Problem 5. Inventory Cost Flows. 15 points Please show ALL work for EVERY transaction. Stan's Wholesale buys canned tomatoes from canneries and sells them to

Problem 5. Inventory Cost Flows. 15 points Please show ALL work for EVERY transaction. Stan's Wholesale buys canned tomatoes from canneries and sells them to retail markets. Stan's uses the perpetual inventory method so management has the advantage of always having current knowledge of inventory levels. During August 2021, Stan's inventory records showed the following: Cases Unit Price August 1 Beginning Inventory 4,100 $10.50 August 9 Sale 950 $19.95 August 13 Purchase 1,000 $11.00 Required: Calculate the cost of goods sold for the month of August and the ending inventory on August 31" using the following cost flow alternatives: LIFO, FIFO, and Weighted Average. Calculate unit costs to the nearest cent. Date Purchases LIFO COST FLOW Cost of Goods Sold Inventory Balance Units Cost per Unit Total Units @ Cost per Unit Total Cost per Unit Units Total Date FIFO COST FLOW Purchases Cost of Goods Sold Inventory Balance Units Cost per Unit = Total Units Cost per Unit Total Units Cost per Unit Total Date WEIGHTED AVERAGE COST FLOW Purchases Cost of Goods Sold Inventory Balance Units Cost per Unit Total Units Cost per Unite Total Units Cost per Units Total
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